24,000 BTC Just Left Exchanges: Is Bitcoin’s (BTC) Supply Crunch Heating Up?

Bitcoin exchange reserves are falling as large withdrawals indicate that some investors may be positioning for longer-term holdings rather than selling. BTC held on exchanges has dropped notably, according to Santiment. On Monday, about 24,073 units left exchanges on a net basis. This is the largest daily outflow in seven months. Fresh Bullish Hopes The last similar move came on March 1. Data compiled by Santiment showed that exchange-held Bitcoin has now fallen to around 6.50% of the total supply. Large outflows are often seen as a positive sign because fewer coins remain readily available for selling. If demand stays steady, tighter supply could support higher prices. The analytics platform added, “Persistent withdrawals can signal investors shifting BTC toward longer-term custody rather than preparing to sell. Outflows alone guarantee nothing, but falling exchange supply strengthens the bullish setup.” The latest data from CryptoQuant adds to the bullish picture. Its analysis revealed that mid-size Bitcoin inflows have fallen on some major exchanges even as the crypto asset has climbed more than 33% since mid-August. On Binance, the 7-day average of mid-size inflows fell from 4,...